People who are in long-term care facilities count on having a safe space in which to be cared for by people who are trained to handle the challenges they’re facing. These staff members should behave ethically, which means that they shouldn’t take advantage of the residents for whom they’re supposed to care.
Unfortunately, one serious issue that can occur in these facilities is financial abuse. This can impact various areas of a resident’s financial situation, so it must be addressed immediately.
Financial abuse takes many forms
Financial abuse involves the improper or illegal use of a resident’s money, assets or property by caregivers or other individuals in long-term care settings. It is a form of exploitation that can significantly impact the financial stability and emotional well-being of elderly or disabled residents. This abuse can take various forms, including stealing cash, forging signatures on checks or coercing residents into changing wills or other financial documents.
Signs of elder financial abuse
Identifying financial abuse in long-term care requires vigilance and an understanding of its subtle signs. Key indicators include:
- Unexplained withdrawals or transfers: Frequent, large or unexplained withdrawals from the resident’s bank accounts or money transferred without the resident’s knowledge or permission.
- Sudden changes in financial documents: New or revised wills, power of attorney or financial documents that the resident doesn’t understand or can’t explain.
- Lack of amenities: The resident may lack personal items, amenities or services despite having adequate financial resources to afford them.
- Secrecy by caregivers: A caregiver may become overly protective about the resident’s financial affairs, often refusing to discuss financial details when previously the resident was more open.
- Increased isolation: An abuser might isolate the resident from friends and family to exercise more control over their finances and decision-making processes.
Anyone who notices any of these signs in re: their loved one who’s at a nursing home should ensure they take steps to get the elder financial abuse to stop. This is a serious matter that may require legal action. Working with a legal representative can help the loved ones of victims learn their options and move forward with their chosen path.